Ethereum Price Analysis: ETH bulls are gearing up for fresh record to above $1,477


  • ETH/USD stays in an uptrend even as immediate resistance line test buyers.
  • Upward sloping trend channel from January 10, upbeat oscillators favor the bulls.
  • 200-bar SMA adds to the downside filters, channel’s resistance can probe buyers.

ETH/USD buyers battle the weekly resistance line, currently around $1,357, amid the initial trading on Wednesday. Even so, a two-week-old rising channel and strong RSI, not to forget the receding strength of the bearish MACD, suggest further upside of the quote.

However, the weekly falling trend line, at $1,378 now, guards the quote’s immediate upside, a break of which will escalate the north-run towards the recently flashed all-time high of $1,477.

Should RSI conditions stay away from the overbought area while targeting the record top, ETH/USD bulls can eye for the $1,500 threshold. Though, the upper line of the stated channel near $1,513, may challenge any extra north-run.

Meanwhile, repeated failures to cross the immediate resistance line can drag the quote towards a 100-bar SMA retest, currently around $1,234.

In a case where the profit-booking moves break $1,234, the lower line of the channel and 200-bar SMA, respectively around $1,110 and $1,067, will be the key to watch.

To sum up, Ethereum is destined to please the bulls, as portrayed by the rising channel, but short-term pullback can’t be ruled.

ETH/USD four-hour chart

Trend: Bullish

Additional important levels

Overview
Today last price 1367.98
Today Daily Change 0.00
Today Daily Change % 0.00%
Today daily open 1367.98
 
Trends
Daily SMA20 1238.62
Daily SMA50 915.16
Daily SMA100 696.65
Daily SMA200 527.01
 
Levels
Previous Daily High 1378.12
Previous Daily Low 1245
Previous Weekly High 1440
Previous Weekly Low 1040.21
Previous Monthly High 759
Previous Monthly Low 530.32
Daily Fibonacci 38.2% 1327.27
Daily Fibonacci 61.8% 1295.85
Daily Pivot Point S1 1282.61
Daily Pivot Point S2 1197.25
Daily Pivot Point S3 1149.49
Daily Pivot Point R1 1415.73
Daily Pivot Point R2 1463.49
Daily Pivot Point R3 1548.85

 

 

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